Sri Lanka Consolidated Acts

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Ceiling On Income And Compulsory Savings (Amendment) Law (No. 22 of 1975) - Sect 3

Amendment of section 12 of the principal enactment

3. Section 12 of the principal enactment is hereby amended as follows: -
(a) by the renumbering of that section as subsection (1) of section, 12:
(b) in the renumbered subsection (1), by the substitution , for the words for any year of assessment of the following: -
(b) by the addition, immediately after subsection (1), of the following new subsection: -
"(2) The normal contribution payable under this Law for any year of assessment commencing on or after April 1, 1974, by an individual who is the head of a family or who is not included in a family shall not be more than eighty per centum of the amount by which his total income for that year of assessment exceeds eighteen thousand rupees.


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